According to analysts a number of disappointing economic and corporate news had worried investors and recent poor data from China, Germany and the US have heightened concerns that the global economic recovery could go into reverse.

economy's future health increased for a fourth month in May, the Conference Board said Thursday, providing further evidence that the economy is gaining strength after a harsh winter caused activity to go into reverse.

A global policy advisory body has warned that the economic recovery in the US and rich nations in Europe will stagnate or go into reverse by year-end, under the weight of government belt-tightening and falling consumer and business confidence.

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